NASDAQ 4H OUTLOOK

NASDAQ 4H TIMEFRAME

1. Trend and Structure

• Current High and Monthly Resistance:
The NASDAQ is currently at a high of 18950.0, facing monthly resistance, which is indicated by a bearish candlestick.


• Monthly Support Levels: The index has broken above the 18390.3 level, which is a significant monthly support level.


2. Support and Resistance Levels


• Monthly Resistance: 18950.0


• Monthly Support: 18390.3


3. Trendlines and Patterns


• Supporting Trendline: The trendline indicates a bullish structure.


• Potential Reversal Zone: Watch the yellow zone for a possible M pattern (double top) formation, suggesting a potential reversal if confirmed.


Conclusion


• Current Bearish Signal: The bearish candlestick at the 18950.0 resistance indicates selling pressure.


• Key Levels: Monitor reactions at the 18390.3 support and the potential M pattern formation in the yellow zone for possible reversal signals.